You and I talked about the Fed buying on the market awhile back. Does this post mean anything? NEW YORK, Oct 24 (Reuters) - The Federal Reserve said on Friday it is adding permanent reserves to the banking system through a purchase of Treasuries dated April 30. 2005, through May 15, 2006. Delivery was set for Monday. The coupon pass has six exclusions. Federal funds were trading at 1 percent, matching the central bank's 1 percent target for the rate. Details of the coupon pass are available on the New York Fed's Web site: http://www.ny.frb.org/markets/permanent.html Here is the link to all the posts. Seems the Fed is pumping billions almost daily into the banking system to prop it up. Am I interpreting this info correctly? http://biz.yahoo.com/n/z/z0003.html
